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 Replies: 43 / Views: 3,095 |
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Valued Member
United States
55 Posts |
A week ago I made the decision to start collecting. I've ordering a bunch of coin collecting gear (mylar 2x2's, plastic 2x2's, some frosted edge cases, magnifier, RedBook, etc) online and could use some beginner advice before this becomes serious! Anyway, I'm not looking to turn a profit or fork out a lot of cash to chase down that elusive coin (check with me in a few years...) but more something I can do with my son and perhaps give him a good start for his own collection as he gets older. I've already had a giddy moment pulling a 1924 cent from a pocket in the diaper bag...yeah, it's not a great find, but the best I've had so far! So I've bought some of the blue folders for current coins (after a few days going through pocket change, they're filling up nicely) and my wife suggested that maybe we should look into buying one of the annual sets from the US Mint. I see they have proofs and uncirculated sets. I think I understand the difference, but how should I store them? Are they ok as they come, or should I separate each coin into plastic 2x2 cases? Also, for those in the know, is collecting these sets something worthwhile? Of course that's subjective, but should I expect these to be worth more in say, 20-30 years time? Should I just collect one set and not the other? Is it best to buy direct from the mint, or should I find them elsewhere? Secondly, where's a good place to start collecting in general? I thought my son (only 3, but loves to handle coins) would like to collect pennies and I was leaning towards Kennedy half dollars. Then I read that they can be a bear to track down and Washington quarters is the place to start...any ideas? Thanks in advance for your help. This forum has proven invaluable in the few days since I started getting serious about looking at the coins in my pocket. Brandon  |
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Pillar of the Community
United States
790 Posts |
Hello and welcome,
You have asked a lot of questions but the only answer you really need is, collect what you enjoy. Of course you'll need answers for all the other questions, but seriously, collect what you enjoy.
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Pillar of the Community
United States
2797 Posts |
Brandon, Wow! I'm glad the forum dad doesn't charge by the word.  Where you go from here depends on your core motivation. If it's just to look at and hold the coins, why not go to the bank and get some rolls to look through. There are a couple of threads on the forum dedicated to just that. There are some amazing discoveries being made for minimal investment. If you plan on being an investor and spending some significant bucks, delay your purchases and spend some time here learning grading, varieties, pricing, etc. If you want something for free, closely monitor the "contests and giveaway" thread.  We're glad you're hear and will offer assistance whenever you need it. If you haven't done so already, you'll need to get a decent digital camera, cuz all of us are nuts for pictures.  |
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Valued Member
United States
231 Posts |
IF you like proof sets then collect them. They are worth it by the way. Go with nickels for your first set. They are fairly cheap to complete and you can find almost all of them in circulation. When you get into Buffalo nickels you will have to start spending some real money, but that's down the road. But if you do buy proof sets, DO NOT open them and put them in anything. They are fine the way they are. Just have fun and you will find that you chose a very rewarding hobby. |
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Pillar of the Community
United States
1031 Posts |
Welcome Brandon! I suggest buying a box of pennies (cents) from the bank. For $25 you'll have many hours of searching. You'll also fill up a lot of holes in your book not to mention the possibility of finding a few wheat pennies and some Canadian pennies. Nickel rolls are another fun way to put together a collection. State Quarters, Half dollars if they have them (ask everytime you go to the bank). Prez dollars. You'll have some fun with your son. I'd keep the mint set as they come if you do purchase any. Just some of my thoughts. |
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Pillar of the Community
United States
1490 Posts |
Brandon, Welcome to the forum. Bottom line is collect what interests you. I know a fair amount of people who started collecting State Quarters with their kids and have had a really good time doing it. While the State Quarter program has been going on for about nine years now the Presidential dollars are a new series that you can start now and continue for the next several years with your son. |
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Pillar of the Community
United States
2049 Posts |
Brandon, Welcome to the forum. Bottom line is collect what interests you. ---- This is the best advice. It will keep it interesting for you and honestly there is no right or wrong answer. For me, I like a variety of coins and I do both collecting and for investing. I like to collect large cents and other pre-civil war US coins, but for investing my focus right now is silver. I enjoy both but I dont limit my focus to just these areas. If I see a good deal, I jump on it. I would say attend a local coin show or join the local coin club if there is one. You can learn alot that way. Good luck and welcome to the forum! |
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Pillar of the Community
United States
1179 Posts |
Welcome to the forums!
Its nice to see someone catch interest in this great hobby. I've been at it since Oct 07 and my god have I learned alot since then. This forum will be your homepage in no time ;)
I'd suggest the same as many others already have. Find a coin that interests you and your son the most and go crazy. With time, you'll start to grow on different coins and before you know it, you'll have 6 books going at once. Pennies would be a great start and very cheap. Your son will be floored when he sees 50 rolls of coins to go through after a short trip to the bank. Presidentials would also be a good idea to start since 07 was the first year.
Either way, you'll be hooked in no time. My wife thinks I'm crazy already, and I've only begun to get serious :)
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Pillar of the Community
United States
549 Posts |
Welcome! I started collecting with my kids (10 and 11) last month and all three of us are becoming obsessed already! First off, check that 1924 coin your found for a mint mark. If it has a D mint mark, then it IS a great find! My kids and I started out by purchasing large lots of wheat pennies on ebay. You can get a bag of 5,000 wheats for $200 - $250 shipped, cherrypick the ones you want, then resell the rest for about the same that you paid. You won't find any key dates that way, but one bag will fill in most of your wheat album with starter coins. After a few bags, you should be able to upgrade most of the coins to at least F or VF. My kids and I have a lot of fun sorting through the huge bags of old pennies. We recently started buying big lots of Indian Head cents too...they're just as much fun to sort through! |
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Pillar of the Community
United States
1130 Posts |
I started on in late September. Been enjoying it every day since.
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Pillar of the Community
United States
1934 Posts |
My Two Cents: There are the different denominations (half, two-cent, three-cent, cent (large/small, nickels, dimes, etc.) and then there are different issues of many of the denominations (wheat, lincoln, buffalo, jefferson, mercury, roosevelt, etc). Point is, there are so many "categories?" to consider. My "advice" to a beginner is to determine what's "do-able," really, meaning, "what (set) can be started, have meaningful progress, and some reasonable, affordable, and practical expectation of completing?" For instance, if I were to start collecting Mercuries at "good" grade, I could expect to spend "X" thousand dollars if I were to purchase every Mercury to fill my set. Collecting them would take a long, long, long time, if even practical because I seriously doubt I'll simply "find" most if even half of my Mercs. If I were to start collecting Wheat Cents, I could expect to pay about the same as the Mercs to complete my set; however, I have a much greater chance of filling in most of my collection through "finds" and they appear for sale more frequently than the Mercs. I say this to those beginning because it can be frustrating to the point of giving it up if we start collecting the harder-to-find, harder-to-acquire, and more-expensive-to-purchase coins. My Two Cents (turned to four cents.) Jim |
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Bedrock of the Community
United States
20753 Posts |
WELCOME Now my boring advise. For one thing go to the USMint web site and order at least one proof and one Uncirc set. Put aside as is for your son's future. If you have more kids, do the same for them. They will appreciate that in about 30 years. Next start with collecting the easy coins. Pennies (cents) and Nickels. Just go to banks and ask for BAGS of them. A bag of cents is $50. Remember to return the ones not wanted to a different bank or you'll wear out your welcome at the first bank. You son may not be to much help now but in the near future his great eyesight will be beneficial. For cents also either go to https://www.coppercoins.com or buy one of his books. There are a lot more to cents than meets the eye to the average person. Your choise of 2x2's is smart. Great for duplicates or oddball coins. I have numerous boxes of them for error coins. Now here is my biggest suggestion. You said BLUE FOLDERS for modern coins. I really hope you didn't mean actual folders where you push the coins into a slot and the reverse is not visible. These are OK for kids where the future of the coins is meaningless. For one thing if a folder note the back of the slot for the coins. Notice the shinny substance. GLUE. If your coins are worn and fall out you can lick them and the glue will now hold them. Your thumb print pushing the coin into the slot is another thing to ruin the coin. I've heard of people using a rubber malet to do this. I suggest you look into the purchase of a thing called a coin album. The coin is visible on both sides and plastic slides that can be moved out to place your coins into the book. Keep us informed.
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Bedrock of the Community
United States
20753 Posts |
Oh just a few more items. DO NOT buy bags of coins on ebay that say UNSEARCHED. For example if stated ALL WHEAT CENTS UNSEARCHED. THINK. How could anyone say that? No one would know what they are unless they searched them. If I said I have 5 Nickels in my pocket and all are 1964D's but I did not look. You would obviously call me a lier. Same with placed on the internet when they say UNSEARCHED. Also, here is a tip. Do not buy cents of nickels in rolls. Not always but usually they were brought to the banks, dumped into counting machines, run through rolling machines at the bank or a place they send them to. Ask for bags of what ever you want. Possibly some banks, if an older one, have bags sitting in a corner of the vault for a long, long time. One more thing. Try Flea markets, garage/yard/estate sales for old coins. Not auctions, just sales. |
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Pillar of the Community
United States
1934 Posts |
and when going to flea markets, etc, carry a book on the coins youre searching for so you know how to identify what's what, what's not, what's WHOA ! and Hoo hum.
Jim
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Pillar of the Community
United States
2600 Posts |
Brandon, all of this is very sound advise. A big part of collecting is adding coins you like to a set and you want to be sure you know what you are getting. Though some are, it is very hard to be an expert on all coins. I think you will find it very rewarding to start on one type of coin and build a set while studying the coin. Learn to understand varieties and errors, what adds value and what does not and become proficient at grading. These abilities are important and hard to concentrate on when your collecting direction is all over. Once you are happy with your skills on one coin series, move on to another. I believe you will find this most enjoyable and the easiest way to do it.
Jim
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Pillar of the Community
United States
549 Posts |
Carl, I have to differ with you on your opinion of the big bags of unsearched wheats. While I agree with you that they have most likely been searched with a fine toothed comb over the years, I don't agree with you that they are a bad investment for a beginner. You and the other hard-core collectors would most likely find nothing of value in those bags, but I think they are wonderful for beginners.
As I stated in the last post, my kids and I have only been collecting for about a month. We've searched through about 12,000 in "unsearched" wheats so far (one bag of 5,000, and several lots ranging from 1,200 to 2,500 each). Our wheat album only has 10 holes left in it and at least 90% of the coins in the album would grade as VF or better. I don't think there are more than 2 or 3 coins total which are worse than VG. Only two coins in my album came from a source other than the "unsearched" bags...they are the 22-D and 26-S, which I picked up inexpensively this week as part of a pre-filled book (I'll resell the rest of the book for about what I paid for the whole thing).
So Carl, while I would completely agree with you that the big "unsearched" bags will likely never yield any key dates or pre-1930 coins in BU condition, I think they are a great way for beginners to have some fun and fill their books quickly. Personally, I like to have my book filled up, even if the coins are mostly VF instead of BU. The upgrading is a never-ending process, but I like the quick jumpstart that the big "unsearched" bags gave me on filling my books. And while there is a big cash outlay to buy the bags (about $200-$250 for a bag of 5,000), you can turn around and resell what you don't want for about the same price a few days later.
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Replies: 43 / Views: 3,095 |
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Posted 01/22/2008 9:28 pm
